Docupace Technologies LLC, financial services’ premier digital compliance and cyber security company, announced on Wednesday that it will pursue growth independently of investment from RCS Capital Corporation (NYSE: RCAP).
The company revealed that it has reached an agreement with RCAP to repurchase their majority share stake and continue its growth trajectory as a privately owned corporation. The company reportedly received a significant investment from RCAP in September 2014, as part of RCAP becoming a majority shareholder in the company.
By repurchasing the RCA interest, Docupace will be able to focus on fueling its growth in the marketplace with widespread implementation of its groundbreaking Straight-Through Processing technology, enabling broker-dealers to digitally process all aspects of their business, including document and client management, payment processing, mailings, e-signature, etc., securely and in compliance with SEC/FINRA regulations.
Michael Pinsker, founder, CEO and president of Docupace, stated:
“It’s an exciting new chapter for Docupace as we prepare to reorient to an independent position. We’d like to thank all of our clients for remaining by our side during this uncertain time. Our strategic direction toward private ownership will allow us flexibility in a quickly-changing marketplace and enable us to innovate as we work to transform the financial services industry.”
Pinsker and Docupace’s existing executive management team will continue to manage day-to-day operations. The company noted there will be no changes to staff, operations, processes or client relationships during the transition, which is expected to close sometime next month.
